Programs

About Aga Khan Foundation Canada:

Founded in 1980, Aga Khan Foundation Canada (AKFC) is an international development organization that is part of the global Aga Khan Development Network. AKFC focuses on social, economic and cultural development to improve living conditions and opportunities for the poor in 15 countries in Africa and Asia. The charity takes a regional approach by aiming to develop and improve the quality of life of regions as a whole. AKFC’s work centers on health, education, gender equality, economic development, food, community leadership, and strategies to cope with environment and climate change. The charity has a vision of equality in which everyone can reach their full potential.

Aga Khan Foundation Canada’s international development work is financed by public support, the Canadian government, collaborations with other development agencies, and direct support from the Aga Khan Foundation in Geneva, Switzerland.

Global Affairs Canada (GAC) works in partnership with Aga Khan Foundation Canada. One of Aga Khan Foundation’s largest current projects, Partnership for Advancing Human Development in Africa and Asia (PAHDAA), running from 2012 to 2018, has a budget of $100m, including $75m from GAC and $25m from AKFC. The project aims to tackle the root causes of poverty in Africa and Asia. For this project, the charity reports: 32,349 health professionals were trained in health promotion; 368,000 women received maternal health care; 330,000 children got a better education; and 15 research studies on health, education, early child development were funded.

Results and Impact

Aga Khan Foundation Canada’s PAHDAA project ended in 2018, benefitting an estimated 1 million people across all 15 countries AKFC operates in. The project resulted in: a 1%-15% increase in the rate of women who had their babies delivered by a skilled healthcare provider; a 5%-17% increase in the rate of women who delivered in a health facility; a 8%-12% increase in literacy rates in children; and a 2%-15% increase in numeracy rates in children.

AKF’s Projetd’amélioration de l’accès à des services éducatifs de qualité project in Mali resulted in a 16% increase in the rate of primary school education. AKF’s Enhancing Employability And Leadership For Youth project in Pakistan ended in 2017 and resulted in: a PKR 12,936 increase in monthly earnings for participants, a 28.2% increase in the number of females employed and a 6.4% increase in the number of men employed, and a 34.1% increase in the number of women who have sole decision-making power.

AKF’s Aswan Skills Development Program in Egypt began in 2015 and will end in 2020. So far, the project has resulted in: a 35% increase in the number of youth who have acquired new individual assets, a 53% increase in the number of graduates who attain improved employment 12 months after training program, and a 33% increase in the number of employed graduates who work in green jobs.

Charity Intelligence has given Aga Khan Foundation a Low impact rating based on demonstrated impact per dollar spent.

Impact Rating: Low

Finances

Aga Khan Foundation Canada is a Major 100 charity with donations of $111.8m in 2018. Administrative costs are 3% of revenues (excluding investment income). The charity does not report fundraising costs in its 2018 audited financial statements. AKFC states that all fundraising costs are fully funded through a grant from the Aga Khan Foundation in Geneva, Switzerland; overhead and direct cost recoveries from institutional donors, corporate sponsorships, and interest income. However, the charity’s F2018 T3010 filing reports fundraising costs of $2.1m. As well, while the charity does not report grants on its audited financial statements, it reports grants to qualified donees of $82.1m on its T3010 filing. The Aga Khan Foundation Canada’s 2018 T3010 reports $34.6m transferred to Aga Khan Foundation in Geneva, Switzerland, of which $25.9m are from Global Affairs Canada.

For every dollar donated, 97 cents go to AKFC’s programs, which is within Ci’s reasonable range for overhead spending. AKFC has $158.9m in funding reserves, resulting in a program cost coverage ratio of 127%. This coverage means that the charity can cover 1.3 years of program costs using existing funding reserves. In addition, AKFC's audited financial statements report AKFC has pledges of support for $199m (2017 - $266m) that will be recorded when received.

This charity report is an update that has been sent to Aga Khan Foundation Canada for review. Changes and edits may be forthcoming.

Updated on July 9, 2019 by Caroline McKenna.

Financial Review

Financial Ratios

Fiscal year ending December

2018

2017

2016

Administrative costs as % of revenues

3.0%

2.9%

4.2%

Fundraising costs as % of donations

0.0%

0.0%

0.0%

Total overhead spending

3.0%

2.9%

4.2%

Program cost coverage (%)

127.2%

121.0%

75.7%

Summary Financial Statements

All figures in $000s

2018

2017

2016

Donations

111,809

82,580

28,908

Goods in kind

0

23,050

0

Government funding

31,355

43,351

48,966

Investment income

2,388

979

857

Other income

18,466

33,527

40,083

Total revenues

164,018

183,487

118,844

Program costs

124,886

95,921

98,716

Administrative costs

4,878

5,228

4,894

Fundraising costs

0

0

0

Total spending

129,764

101,149

103,610

Cash flow from operations

34,253

82,339

15,234

Capital spending

(532,361)

3,137,570

25,348,500

Funding reserves

158,901

116,061

74,733

Note: All non-government and non-Canadian donation revenues are included in other income.

Salary Information

Full-time staff: 76

Avg. Compensation: $91,610

Top 10 staff salary range:

$350k +

2

$300k - $350k

0

$250k - $300k

0

$200k - $250k

5

$160k - $200k

1

$120k - $160k

1

$80k - $120k

1

$40k - $80k

0

< $40k

0

Information from most recent CRA Charities Directorate filings for F2018

Charity Contact

The information in this report was prepared by Charity Intelligence Canada and its independent analysts from publicly-available information. Charity Intelligence Canada and its analysts have made endeavours to ensure that the data in this report is accurate and complete but accept no liability.

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